Combination of Equipment Finance Businesses

Bill Hartley led a team of EKB lawyers that acted for a client in the combination of their prime equipment finance business with the prime equipment finance business of a BC credit union. The negotiations were protracted and complex. The transaction involved an agreement whereby our client would provide long term management of the combined business and a retained interest for our client in the combined entity. The transaction provided that the credit union would have an option after a number of years to acquire the interest of our client. The transaction also provided that non-prime equipment finance applications generated by the combined entity would be referred to our client for an extended period of time.